Documentos e informes

Morocco - Land Development for Low-Income Families Project (Inglés)

Abstracto en inglés

The Land Development for Low-Income Families Project is rated satisfactory. However, performance ratings gave mixed results, for while the Borrower's performance is satisfactory, based on strong commitments to reform, and the performance of implementing... Vea más +The Land Development for Low-Income Families Project is rated satisfactory. However, performance ratings gave mixed results, for while the Borrower's performance is satisfactory, based on strong commitments to reform, and the performance of implementing agencies, the Bank's performance is unsatisfactory, due to underestimated lending risks, and, to a failed focus on demand analysis of subprojects. Key lessons suggest that: 1) by and large, social housing services are financed by the central government, while local governments generally provide municipal services, often with low budgeting capacity, therefore, imposed urban development plans are usually not realistic to local limitations. The project land development succeeded by involving municipalities, and regional stakeholders in an integrated fashion, supported also by the Municipal Finance Project, where both projects provided mutually exclusive incentives; 2) low income housing was designed to be partly financed by private developers , though not warranted, as the financial system does not provide incentives to compete with the specialized public institution, while studies were supposed to advance reforms in housing finance. Unfortunately, the timing factor proved unrealistic, for studies should have impacted reforms early on, an issue to be considered during design; and, 3) institutional, and regulatory framework governing land, and housing development imposed severe sector constraints, thus conditionalities on gradual reforms should have guided the Bank's operational strategy.
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